RBI tells Paytm Payments Bank to stop adding new customers

Paytm Payments Bank has stopped enrolment of new customers on its platform following observations made by the Reserve Bank of India, four people with knowledge of the matter said. Paytm stopped enrolling new customers on 20 June following an audit by RBI, which made certain observations about the process the company follows in acquiring new customers and its adherence to know-your-customer (KYC) norms, three of the four people said, requesting anonymity.